The audit is the highest level of assurance that a company may offer to garner favour with a lender or in cases when it is getting ready to sell or combine. It gives any organisation a transparent financial picture. The integrity of the organisation is on the line, so audits must be done with the utmost accuracy. Noting that not every financial statement necessitates the same degree of confidence, we offer three different assurance services: Audit, Review, and Compilation. You may select the degree of service that best suits your needs if you have a complete understanding of each level.
You can gain a lot from offshoring auditing services to FinWin Advisors because we are a team of knowledgeable auditors who comprehend your business needs and offer specialised solutions. Our offerings not only comprise but also extend to:
The audit is unbiased and objective examination of the financial statements of an organization, irrespective of its size, nature and legal structure, with the aim of expressing the opinion on the financial statements through an audit report.
The auditor evaluates whether the reports prepared by the entity conforms to the financial reporting framework, i.e. GAAP or IFRS. The primary objective of audit is to determine whether the financial statement represents true and fair view and the secondary objective is to detect if there are any errors or frauds, in the financial statements prepared by client.
There can be two types of audits: Internal audit and external audit, wherein the internal audit is performed by the employees or head of the department of the organization, whereas the external audit is performed by external auditor.
A review provides limited assurance of financial statements, which is sufficient in many instances for a company and its creditors. Thus, it is a sort of mid-level assessment. In finer terms, it states that the financial statements are free from material misstatement.
Our team performs all the required inquiry and analytical procedures to suggest if any modifications are required in the financial statements.
A compilation is the presentation of financial statements by outside accountant without any opinion. It is an internal report representing the financial condition of a company.
Our compilation services are executed in accordance with the American Institute of Certified Public Accountants (AICPA).
Assists customers/clients with basic accounting practices. Creates financial statements using a prescribed format. Collaborates with other auditors to assure companies adherence to acceptable accounting standards. Maintains current information of tax issues and accounting statements.
Associate - Review and compilations understands the difference between a preparation, a compilation and a review engagement. He identifies the objective and requirements of an engagement to prepare financial statements.
Senior audit associates are required to execute all phases of the audit process, including financial analysis, planning, substantive testing, and issuance of opinion; present audit findings to management and prepare financial statements.
Sr. Associate - Review and compilations has the fundamental understanding of Quickbooks and US Accounting/Auding as well understanding of reviews and compilation engagement.
Perform audits for business operations, finances, compliance with policies and procedures. Oversee audit planning and reporting activities according to established policies. Supervise audit team to ensure quality and on-time delivery. Evaluate performance of audit staffs and provide appropriate feedback.
